Asia-Pacific Turboprop Aircraft Market Size (2024 - 2029)

The Asia-Pacific turboprop aircraft market is experiencing growth driven by increased defense spending in countries like India, Japan, and China, aimed at enhancing military transport capabilities. Additionally, the expansion of air passenger traffic and the development of new airports in the region are contributing to the market's expansion, as low-cost carriers favor turboprop aircraft for short-distance routes. The general aviation sector is also on the rise, supported by a growing business ecosystem and higher disposable incomes, further influencing the market size positively.

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Market Size of Asia-Pacific Turboprop Aircraft Industry

Asia-Pacific turboprop aircraft_snapshot
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.00 %

Major Players

Asia-Pacific Turboprop Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Turboprop Aircraft Market Analysis

The Asia-Pacific turboprop aircraft market is expected to exhibit a CAGR of more than 2% during the forecast period (2020 - 2025).

  • The Asia-Pacific countries, such as India, Japan, and China, are increasing their defense spending to strengthen the cargo and troop transportation capability of their respective air forces. This factor is driving the market growth for turboprop aircraft, such as C-130J Super Hercules and A400M Atlas, in the region.
  • The rise in air passenger traffic in the region is pushing the development of new small and medium-sized airports in countries, such as India and China. Due to the new short-distance routes between provinces, states, and cities, many low-cost carriers are opting for turboprop aircraft, owing to their cost-effectiveness.
  • The general aviation industry in Asia-Pacific is on the rise, owing to the growth and development of the business ecosystem and the rise in the disposable income of people. The Asia-Pacific region accounted for 14.6% of global general aviation turboprop aircraft deliveries in 2019, and this share is expected to go up during the forecast period.

Asia-Pacific Turboprop Aircraft Industry Segmentation

The Asia-Pacific turboprop aircraft market covers the latest trends and technological developments and provides analysis on various aspects of the market. The report also provides country-level analysis and recent procurement plans and contracts.

Application
Commercial Aviation
Military Aviation
General Aviation
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
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Asia-Pacific Turboprop Aircraft Market Size Summary

The Asia-Pacific turboprop aircraft market is experiencing a positive growth trajectory, driven by increased defense spending and the expansion of air passenger traffic. Countries like India, Japan, and China are enhancing their air force capabilities, which boosts the demand for turboprop aircraft such as the C-130J Super Hercules and A400M Atlas. Additionally, the development of new small and medium-sized airports in India and China, coupled with the rise of low-cost carriers opting for cost-effective turboprop solutions, is further propelling market growth. The general aviation sector is also on the rise, supported by a growing business ecosystem and increasing disposable incomes, with the region's share of global general aviation turboprop deliveries expected to rise.

China, in particular, is witnessing significant growth in air passenger traffic and aviation infrastructure, contributing to the robust expansion of its turboprop aircraft market. The country is set to produce a substantial portion of future airliners, with domestic developments like the MA700 twin-engine turboprop aircraft playing a crucial role. The market is consolidated, with major players such as ATR, Textron Aviation, Lockheed Martin Corporation, and AVIC leading the charge. These companies are strategically establishing manufacturing and distribution centers in the region, leveraging low-cost labor and securing contracts from airlines, governments, and businesses to drive revenue.

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Asia-Pacific Turboprop Aircraft Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Commercial Aviation

      2. 2.1.2 Military Aviation

      3. 2.1.3 General Aviation

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Australia

        6. 2.2.1.6 Rest of Asia-Pacific

Asia-Pacific Turboprop Aircraft Market Size FAQs

The Asia-Pacific Turboprop Aircraft Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)

Lockheed Martin Corporation, Textron Aviation, Aviation Industry Corporation Of China, DAHER and ATR are the major companies operating in the Asia-Pacific Turboprop Aircraft Market.

Asia-Pacific Turboprop Aircraft Market Report Snapshots

Asia-Pacific Turboprop Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)